The Democratic Party of Korea digital assets task force postponed introducing the basic virtual assets act to early March.
The Democratic Party digital assets task force held a meeting with advisory committee members on the afternoon of the 24th at the lawmakers' office building in Yeouido. The main issues at the meeting were whether, when issuing stablecoins, banks must have an equity structure of 50%+1 share, and restrictions on equity transactions by the largest shareholders of exchanges.
Lee Jeong-mun, who serves as the task force chairperson, met with reporters right after the meeting and said, "We heard the advisory committee members' opinions on the specific details of the bill we have prepared and discussed so far," and noted, "Around next week or the week after, we will arrange a communication session with the Financial Services Commission to convey our position and continue consultations."
Lee said, "Coordination and procedure are needed regarding whether the ruling party's bill will include 50%+1 share and equity regulations on virtual asset exchanges."
Ahn Do-geol, who joined the task force as a secretary, also held back on commenting about the bill's detailed issues. Ahn said, "The timing for introducing the bill was originally targeted for February, but it is highly likely to be pushed to early March," and added, "Reflecting the advisory opinions will require about a week of revisions."
He continued, "There is still an internal decision-making process left, and some content may represent a step back from our existing position, so it is difficult to disclose it now." The task force plans to coordinate the positions of the industry and the financial authorities and produce a single proposal.